Real Estate News 4/21/2016

SFRs Rising In Price…The median home price for March for an existing single-family home was $220,000, which is a 7.3 percent rise from its $205,000 average last year. The local condominium and town home market, which included the high-rise condo market, also was on the rise in March. The median price in those markets was $118,000, up from $115,000 last year..

Multi Unit Construction Boom… We saw the arrival of more than 2,500 multifamily units across 11 projects of 50 units or larger. With job growth and an increasing population, we expect rents to increase among our low income housing units that many of our investors own.

Fremont Casino Changes Hands…The shuttered Las Vegas Club will come back alive with the purchase by the experienced Stevens Brothers. Fremont Street continues to be redefined and rebuilt on a regular basis.

Boyd Gaming Purchases Aliante Casino…Boyd gaming sees as much opportunity as we do with the population growth in North Las Vegas. New jobs are being created in the industrial areas and news of the car manufacturing plant in Apex are adding to the high expectations.

Office Park Sues Law Firm…This is why you don’t want to rent to law firms. The office park was foolish in not kicking them out earlier.

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